Central Bank denies rumors of foreign exchange system being suspended

Libya's Central bank denies online rumors that the system for foreign exchange has been suspended and reassures citizens and businesses alike of the availability of foreign currency in the banks

The CBL commenced the sale of foreign currency at all commercial banks in January of this year after a new exchange rate was approved. [Photo: CBL]
Mukhtar Tawilla, Director of the Banking and Monetary Control Department, refuted reports on social media that the scheme of selling dollars for personal use in commercial banks for $10,000 per person had ceased to function.

The Libyan News Agency quoted Tawila as saying that the system is operating normally in commercial banks and that information is still being received and passed on.

Since last January, the Libyan Central Bank has been selling foreign currency to people and traders through banks at a rate of 4.48 dinars and has granted funds to owners of public and private companies to cover services and products for the local market.

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